Watch this animated video about the things that affect your Experian Credit Score, and how.
Last night (16 March), Experian’s James Jones and Jill O’Connor appeared on LBC’s Money Hour show answering listeners’ queries about credit scores and credit ratings.
It’s a living thing
Your credit score is not set in stone – it’s a living, breathing thing. Your own credit rating changes along with your own financial behaviour.
When you make an application for a loan, credit card, mortgage or other type of credit (such as a new utility contract or mobile-phone account), lenders look at your credit report to work out your credit score. Why do they do this? So they can judge for themselves if they think you’ll be a responsible borrower and likely to repay what you owe them. Continue reading
Getting a good understanding of the factors that do and don’t affect credit ratings can help you both now, and in the future.
Experian research found that seven out of 10 of Britons (71%) believe they have a good or excellent history of managing credit*.
But two thirds of these (66%), equivalent to almost half the UK population** have never actually checked their credit report or score – and should their credit rating be damaged, it could get in the way of their chances of getting the most suitable deals, and at the best rates.
So that’s why we’ve now launched a series of online guides to help take some of the mystery out of the credit referencing process, and help people take control of their finances.
Could your credit history prevent you from getting a mortgage?
Experian research suggests that more than a quarter of people in the UK looking to buy their first home before 2016 – around 1.81 million people – have missed credit repayments, defaulted accounts and CCJs currently listed on their credit report. And all of these could prevent them from securing a mortgage.
Did you know that this week (6-10 October) is National Customer Service Week?
Around 4,000 customers call Experian’s Contact Centre each day, with customer support and satisfaction being at the heart of the operation.
In fact, Experian’s award-winning contact centre, based in Nottingham, won the ‘Medium Size European Call Centre of the Year’ award at the 2014 European Call Centre and Customer Services Awards in July.